Progressive Markets published a report, Cyber Insurance Market Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025, which says that the global Cyber Insurance Market was valued at $ 2155.0 million in 2014 and is likely to garner $ 29175.9 million in 2025, growing at a CAGR of 27.46% during the forecast period 2018-2025.

Cyber-attacks or data breaches are almost a daily occurrence in todays age. As modern businesses are more dependent on technology, they are always at the risk of cyber threats. Data breaches can have a major impact on ones business causing many small businesses to stop functioning. Therefore, every business needs to have a cyber insurance in place in order to mitigate cyber risks and protect its business. Some of the cyber insurance coverages include privacy liability, extortion, data loss and restoration, network/business interruption, theft and fraud coverage, notification costs, forensic investigation, crisis management and regulatory actions.

Market Drivers and Restraints:

The cyber insurance market report provides a detailed analysis of the drivers and restraints impacting the cyber insurance market growth. An increase in demand for cyber insurance policies, the rise in cyber-attacks which has incurred huge losses for organizations worldwide, the rise in awareness of different cyber risks, and an implementation of legislation regarding data security in emerging nations are the factors driving the cyber insurance market growth. On the other hand, the complex and changing nature of cyber risks impedes the growth of the cyber insurance industry.

Cyber Insurance Market key Segmentation:

The report analyzes the cyber insurance market based on its segmentation. The market is segmented based on distribution channel, industry vertical, and geography. Based on distribution channel, the industry is classified into very small enterprises, small enterprises, medium enterprises, and large enterprises. Based on industry vertical, the market is divided into healthcare, retail, financial services (BFSI), information technology and services (IT), and others. Geographically, the report analyzes the cyber insurance market across North America, Europe, Asia-Pacific, and LAMEA. The market study in North America covers the U.S., Canada, and Mexico. The market analysis in Europe covers Germany, Poland, Spain, Italy, Russia, UK, France, and other parts of Europe. The analysis in Asia-Pacific covers China, Singapore, India, South Korea, New Zealand, Japan, Australia, and the rest of Asia-Pacific. The study in LAMEA covers Latin America, Middle East, and Africa.

The report explains the global cyber insurance industry with the help of cyber insurance market size, cyber insurance market share analysis, cyber insurance market forecast, cyber insurance market outlook, Porters analysis, market dynamics, trends analysis, and key market segments. The report is a useful source of guidance for market players, stakeholders, and investors for making informed decisions and forming business goals. The cyber insurance market size assists market players and investors to plan their businesses well ahead to achieve growth in the coming years. The market share analysis helps determine how the companies are performing as compared to their competitors. The Porters analysis evaluates the forces that affect the competitiveness of the market. It comprises the bargaining power of buyers, bargaining power of suppliers, the threat of substitutes, industry rivalry, and the threat of new entrants. The market dynamics include the drivers and restraints impacting the growth of the market. The key players providing solutions in the field are outlined in the cyber insurance market analysis report. Apart from the overview of these players, the report also contains their financials and business segments and any recent developments.